BP (NYSE:BP) oil is starting to reach the shores. BP said on May 18th, it has already spent $625 million. This is since the BP oil rig Deepwater Horizon sank April 20th.
Governor Bobby Jindal said yesterday at a press conference, heavy oil has reached our wetlands in the area of Plaquemines Parish, Louisiana. This is about 34.5 miles off the states shore line. Jindal also said, "these are not tar balls this is not sheen, this is heavy oil."
A permit was filed May 11th by the Louisiana's Coastal Protection and Restoration Authority to add piles of sand to protect the states barrier islands. The U.S. Coast Guard has also been asked to assist Louisiana by putting dredgers into place. This is so work can begin immediately once approved.
Oil has also reached the loop current, water that flows from the Gulf to around Florida. As a precaution of the spread of oil in the current, the National Oceanic and Atmospheric Administration has closed 19 percent of fishing in federal Gulf waters. It's only a matter of 8 - 10 days before the oil reaches the Florida Keys once caught in the loop current.
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